Most Real Estate Brokers & Agent says starting early is the success road to acquiring a property.
Are you looking to buy a property in 2020, it’s time to start planning. Follow these steps as a guide in achieving your goal in acquiring a new property for the year.
Resolution 1: Start planning
Most Real Estate Investors as I like to call them A-list player - Follows these plans for the new year - They play better in buying a home or any property early in the year because they spend time doing their homework late in the previous year or early in the new year and getting the basics. Some factors are consider before a buyer go into finding the right home, including researching neighborhoods and looking at the market to understand what is available within a budget with the help of their Real Estate Broker.
This is a pattern to go as regards what your budget can actually get you, as most times people are suppose to adjust their expectations to their budget.
Knowing your budget to acquire a new property is important as it narrows down your options.
Resolution 2: Start saving early
After knowing your budget to acquire the expected property, It is time to start to save if the required budget is not available. There are property also available for sale to be purchased with an initial down payment and the balance spread within a period of time which your agent can find you in the neighbour you desire to buy the property.
You can also consider going for a Mortgage with the bank and your line of credit will be considered for any approval.
Resolution 3: Working with the Right Real Estate Agent & Broker
Buying a property is interesting and beautiful especially if it's your first home and sometimes a little intimidating. Working with the right real estate agent and broker can make life more interesting. A good real estate agent can help you as a first time buyer or regular property investor in on the right property during the search processes and also solicits for property buyer at the closing of the deal.
Searching for the property is just one step, after finding the property you want. Your real estate agent will also help you in the negotiation processes to negotiate the best terms in purchasing the property that is beneficial to you. Acquiring a property is not a simple task, it’s important for Property Buyer to work with a trusted advisor. In addition to helping buyers in the real estate process, an agent can recommend home inspectors, repair services, and other important services.
This is the biggest financial transaction of your life, why would you want to do it yourself? You need to find an agent you can trust.
Resolution 4: Do more! Commence the Property search in the Neighborhood You want
The moment you as a Property Buyer have an idea of the ideal price range and you have found an agent to work with, it’s now time to start looking at different properties again within the neighbourhood of your choice.
It is hard most of the time for anyone to make a decision about any property if they do not have a point of reference. For example, your budget is N50,000,000. What does N50,000,000 looks like in the neighbourhood you want? What you don’t want to do is making decision the first time you are looking at a property be when you are ready to pull the trigger.
Also, when it comes to choosing the neighborhood, keep in mind these three important things: You have to think about it in terms of live, work, play. How close is it to supermarket & Grocery shop, Your work and Your Leisure place.
If you as the buyer have a specific neighborhood in mind, working with an agent who knows the terrain, the neighbourhood can tell you about everything from traffic times to exciting events around the neghbourhood, They may even know about some things buyers don’t think about, such as security challenges and other things.
Resolution 5: Go for the Property
Once your cash or likely the down payment is ready, and finding the property you love that meets the budget, You can instruct your real estate agent to send in an offer letter to the Property Seller
to enhance negotiation and commence documentation search to verify there is no issue with the property. Then sign the agreement, there you have your new home.